Laserfiche WebLink
® rE <br />B. The Project is appropriate to the needs and cir- <br />cumstances of the Issuer's community, and the location of the <br />Project therein will make a significant contribution to the eco- <br />nomic growth of such community, will provide gainful employment <br />and will serve a public purpose by advancing the economic <br />prosperity and the general welfare of the State of Florida and <br />its people. <br />C. Giving due regard to the ratio of the Proprietor's <br />current assets to its current liabilities, net worth, earnings, <br />trends, coverage of all fixed charges, the nature of its business <br />and the industry in which it is involved, its inherent stability, <br />and all other factors determinative of the Proprietor's <br />capabilities, financial and otherwise► of fulfilling its obliga- <br />tions consistently with the purposes o' the Act, the Proprietor <br />is financially responsible and fully capable and willing to <br />fulfill its obligations under the Loan Agreement, including the <br />obligation to make payments thereunder in the amounts and at the <br />times required pursuant to the terms of the Loan Agreement and <br />the obligation to repair and maintain the Project at its own <br />expense► and the Proprietor is desirous of serving the purposes <br />of the Act and is willing and capable of fully performing all <br />other obligations and responsibilities imposed upon it pursuant <br />to the provisions of the Loan Agreement. <br />D. The Issuer is capable of providing when needed all <br />the necessary public facilities, utilities and services that will <br />be necessary for the construction, operation, repair and main- <br />tenance of the Project and on account of any increase in popula- <br />tion or other circumstances resulting by reason of the location of <br />the Project within the territorial limits of the Issuer. <br />E. Adequate provision is made under the provisions of <br />the Loan Agreement for the repair and maintenance of the Project <br />at the expense of the Proprietor, and for the payment of the <br />principal of and premium, if any, and interest on the Bonds. <br />F. The principal of and premium, if any, and interest <br />on the Bonds and all payments required under the Loan Agreement <br />shall be payable solely from the proceeds derived by the Issuer <br />under the Loan Agreement, including the loan payments required to <br />be made by the Borrower in connection with its use and operation <br />of the Project, and the Issuer shall never be required to (i) <br />levy ad valorem taxes on any property to pay the principal of and <br />premium, if any, and interest on the Bonds or to make any other <br />payments provided for under the Loan Agreement, or (ii) pay the <br />same from any funds of the Issuer other than those derived by the <br />Issuer under the Loan Agreement; and such Bonds shall not consti- <br />-2- <br />